GEIF Ventures matches business angels with a £100,000 co-investment
in Artimi Limited
27 October 2003
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October 2003, Cambridge UK. GEIF Ventures, a
£2.5 million fund set up in April 2003 to co-invest alongside
business angels has announced that it is to invest £100,000
into Artimi Limited alongside Great Eastern Investment Forum (GEIF)
members and other parties.
Based in Cambridge, Artimi Ltd is a fables semiconductor
company developing silicon solutions for wireless connectivity based
on ultra wideband (UWB) technology.
UWB is a wireless communication technology that
differs fundamentally from all other radio frequency communication.
It is unique in that it achieves wireless connections without using
an RF carrier. Instead, UWB uses modulated pulses of energy less
than one nanosecond in duration.
“UWB is considered the next wave in wireless
technology," stated Jack Lang, CEO of Artimi, "capable
of surpassing existing technologies such as Bluetooth and 802.11,
by delivering many times higher data rate with minimal power requirements
and greater spatial capacity.
“We are delighted to have received
funding from GEIF Ventures and GEIF angels. Combined with the financial
muscle of our other investors, it will allow us to continue the
successful development of our products.”
Says Nigel Brown: “I am particularly pleased to see so many
members of the Cambridge business community coming together to invest
in Artimi and develop its technology. This clearly demonstrates
the advantages of clustering.”
The Cambridge office of Mills and Reeve acted
as legal advisors on the transaction.
Further enquiries:
Max Bautin
GEIF Ventures Ltd
max.bautin@geifventures.co.uk
Richard Dellabarca
Artimi Ltd
+44 (0)1223 464464
richard.dellabarca@artimi.com
For media enquiries please contact:
Steve Greenahlgh
Profile Communications
01223 236736.
Notes to Editors:
GEIF Ventures
GEIF Ventures is a £2.5 million co-investment fund within
the NW Brown Group established with the commitment by the Small
Business Service to co-invest with GEIF business angels into promising
businesses. GEIFV is able to co-invest initially up to £100,000
and, if appropriate, follow up its investment by another £100,000
after 9 months. GEIFV is not a lead investor and can only invest
when a company receives an investment from GEIF business angels.
Great Eastern Investment Forum
www.geif.co.uk
GEIF is a leading UK business angels network strategically based
in Cambridge. It is the fundamental link between early stage companies
and business angels seeking quality investment opportunities. GEIF
introductions, through regular company presentations and breakfast
meetings, provide a secure and confidential business environment.
GEIF website brings members all the latest investment opportunities
and other relevant news. Since GEIF was launched in 1995, its members
have helped over 150 early stage companies to raise in excess of
£20 million of investment and to strengthen their teams with
invaluable management skills. Membership of GEIF includes private
investors, corporate investors, venture capitalists and corporate
advisers.
Artimi Limited www.artimi.com
Formed in 2002, Artimi Ltd is a fabless semiconductor company developing
silicon solutions for high bandwidth wireless connectivity based
on Ultra Wideband (UWB) technologies. Artimi’s solution provides
high data rate, low power consumption and low cost silicon solutions
for ubiquitous Wireless Local Area Network (WLAN) and Wireless Personal
Area Network (WPAN) applications.
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